BULLETIN: Already Jailed, Utah Ponzi Schemer Ordered To Pay More Than $18 Million; United States Extradited Jeffrey Lane Mowen From Panama And Charged His Pitchmen

Jeffrey Lane Mowen

BULLETIN: Utah Ponzi schemer Jeffrey Lane Mowen has been ordered by a federal judge to pay more than $18 million in a civil case that sparked a criminal probe and resulted in allegations that Mowen had hatched a murder-for-hire plot from a U.S. jail after he was extradited from Panama in 2009.

The FBI worked with officials in Panama to return Mowen, 50, to the United States.

The Mowen case destroyed Ponzi-forum myths that scammers are untouchable if they remain “offshore.” It also destroyed the myth that individuals who drive business to a Ponzi scheme cannot be charged. Indeed, the SEC sued at least six individuals who drove money to Mowen and also filed administrative actions against them.

Mowen ultimately pleaded guilty to wire fraud and is serving 10 years in federal prison. The case is fabled in Ponzi lore because Mowen had accumulated more than 200 vehicles with investors’ funds — so many that it created a storage problem for the U.S. Marshals Service.

Part of Jeffrey Lane Mowen's Ponzi haul.

Here is the breakdown of the civil judgment against Mowen: disgorgement of $8,041,779 in ill-gotten gains, a matching civil penalty of  $8,041,779 and $1,964,203.67 in interest.

Mowen is scheduled to be released from prison in January 2018.

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One Response to “BULLETIN: Already Jailed, Utah Ponzi Schemer Ordered To Pay More Than $18 Million; United States Extradited Jeffrey Lane Mowen From Panama And Charged His Pitchmen”

  1. The worst part of Mowen is that there were credible threats to kill the witnesses.

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